PM calls TCS an Indian success story

Tata Consultancy Services (TCS) is a shining example of the success of Indian private enterprises, Prime Minister Manmohan Singh said Saturday.

"It has carved a niche for itself in the global market for IT and IT-enabled services and has set benchmarks of excellence in the area of software development," the prime minister said here.

Manmohan Singh was addressing a gathering at the foundation laying ceremony of TCS Global Learning Centre at the Technopark campus here.

TCS is an Indian major in IT services, business solutions and consultancy. It is headquartered in Mumbai and it operates in more than 40 countries.

"Today, TCS ranks among the top 10 IT services companies globally. It is not only the highest valued company in India but also the second most valuable company in the world in the technology services industry."

The proposed Global Learning Centre of TCS, when fully functional, will be able to train about 50,000 associates annually.

It will also conduct holistic professional and personal development programmes for TCS professionals.

"I am confident that the Centre, which proposes to integrate elegant design, ecological thinking and modern technology, will set global benchmarks for corporate learning institutions," Manmohan Singh said.

"The Centre will further enhance the presence of TCS in Kerala and Thiruvananthapuram in particular.

"TCS is also setting up a software development Special Economic Zone in Thiruvananthapuram," he added.

The prime minister also recognised that such centres can only generate opportunities for productive employment of youth in adequate numbers while meeting the demands of the expanding economy for a skilled work force.

"Therefore, our government has set very ambitious targets for itself in the area of skill development and is working hard to achieve them.

"We have taken several initiatives in this area and some of them have involved partnership with the private sector," he said.

Manmohan Singh pointed that the IT sector in India had witnessed phenomenal growth over the past several years, particularly in the area of software development.

"The government stands committed to providing an enabling environment which encourages the sector to grow even further.

"Pursuant to recommendations of the Rangachary Report, several taxation issues confronting the IT sector have been addressed. We are also engaged in the resolution of issues pertaining to immigration and visas.

"We are trying to improve the hardware ecosystem in the country and are exploring the establishment of two semi-conductor wafer fabrication manufacturing facilities."